Saturday Special

Sorry I missed my usual posting yesterday. I spent the day in LIC where I was negotiating a land deal. So much has been said about a housing slowdown nationally, and even in the fringe markets in NYC, but I have to say LIC, specifically Hunters Point is a heck of an exception. Seems that there is a real land rush on out there, as it is evident that the area is transforming quickly, and prime development lots are becoming harder and harder to find. I think it's fair to say that prices for buildable square footage is up at least 50% over the past 2 years, and gaining momentum. As one broker with 3 lots on 46th Road off Vernon put it when quoting me a price: '2.6 Million per lot, that's today's price, at the rate things are going, it will be 2.8 Million next week, and 3 Million by the end of the month'. Scary part is, he's not kidding!
Here are some link that I missed yesterday:
Brokers turning down overpriced listings (The Real Deal)
Clinton Tells Bloomberg, Please Don't Run (NY Post)
Two Window Washers Fall 47 Stories (NY Times)
Ban On Horse Carriages Proposed (NY Times)
Madonna Sues Co-op Board (NY Post)
Oy Vay! Balducci's Offers Chanukah Ham! (NYDN)
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Comments

  1. AnonymousDecember 10, 2007 at 12:28 PM

    what do you think about central and northern lic? like court sq to the 59th st bridge. isn't silver cup doing a major development?

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  2. AnonymousDecember 10, 2007 at 12:28 PM

    what do you think about central and northern lic? like court sq to the 59th st bridge. isn't silver cup doing a major development?

    ReplyDelete
  3. Andrew FineDecember 10, 2007 at 12:40 PM

    I think that area has a great deal of potential. Jackson is zoned for highrises and there are a couple of hotels going up near the citi building. So much development is in the works. I had a summary back in October. You should check it: http://afinecompany.blogspot.com/2007/10/condo-explosion-in-lic-northqueens.html

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